The Best Bet in 2014: You Paid Above Asking

• December 15th 2014

by Lark Turner

UrbanTurf usually stays away from publishing rankings or lists…except at the end of the year when we look back at all DC’s residential real estate scene had to offer during the previous 12 months. So, this week, we are looking at not only the best, but the most intriguing and peculiar things that came across our radar over the course of the past year.

Competition for homes on the market in DC was fierce this year. In two sought-after neighborhoods — American University Park and Mount Pleasant — homes sold above their asking price on average for the first 11 months of 2014. In other neighborhoods, from Georgetown to Bloomingdale, the bidding wars caused listings to sell for hundreds of thousands of dollars above the original price. The homes that soared well above asking were typically historic, with thoughtfully designed renovations showcasing original details. They typically had especially well-designed kitchens and ground-floor spaces intended for traditional entertaining.

Here’s a look at a few of the properties we featured this year that ultimately sold for well above their list price.

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Three Fireplaces in Bloomingdale: $111,500 Over Asking

This updated Bloomingdale home, which sold for more than $110,000 over its list price just seven days after hitting the market, has another snazzy, updated kitchen that opens to the dining room and leads out to a screened-in porch overlooking a parking pad. Inside, the layout isn’t quite open concept, but the bathrooms and fixtures are nicely updated. The new owner has a fairly large master bedroom, along with three fireplaces and a one-bedroom income suite.

• Address: 132 U Street NW (map)
• List Price: $799,000
• Sold Price: $910,500
• Bedrooms: Three
• Bathrooms: Three
• Year Built: 1906
• Days on Market: Seven
• Listing Agents: Alexandra DeLorme and Laura Pimentel, Lindsay Reishman Real Estate

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A LeDroit Park Rowhouse: $120,100 Over Asking

The rowhouse near the eastern edge of LeDroit Park had a really nicely designed interior, including an updated kitchen with a tucked-away bar-height breakfast nook, a first floor with lots of entertaining space, and a finished basement memorably featuring a mannequin in the listing photos. The home also has a deep backyard with a deck and a stone path leading in from a parking pad. The home hit the market on a Thursday in mid-July and was under contract by the following Tuesday. It’s clear there were a number of interested buyers. Listed for $729,900, the home ultimately closed for $850,000.

• Address: 61 W Street NW (map)
• Listing Price: $729,900
• Sales Price: $850,000
• Bedrooms: Three
• Bathrooms: 2.5
• Year Built: 1912
• Days on Market: Six
• Listing Agent: Christopher Bulka, Coldwell Banker Residential Brokerage

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Three Beds in Georgetown: $175,000 Over Asking

This three-bedroom, 2.5-bath Georgetown townhouse was featured in Best New Listings a few weeks ago, and ended up selling for well above the asking price. The new owner gets to live in the fireplace-outfitted master suite and potentially use the finished lower level as an income suite. That should help on the mortgage for this home, which sold in under ten days for $175,000 above asking.

• Address: 2815 Q Street NW (map)
• Price: $1.595 million
• Sale Price: $1.77 million
• Bedrooms: Three
• Bathrooms: Two
• Year Built: 1900
• Days on Market: 9
• Listing Agent: Nancy Taylor Bubes, Washington Fine Properties

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A Six-Bedroom in Georgetown: $280,000 Over List

This six-bedroom home came with a typically high Georgetown price tag, but offered a lot, with 5,000 square feet, four and a half bathrooms, a rental suite downstairs and plenty of period details. Despite the sky-high original list price of $2,995,000, it was likely a bit underpriced for its size, location and extremely good condition. One of the home’s best features is the kitchen, which has a tin ceiling and multiple seating areas. The home has a very deep backyard by Georgetown standards, which the description notes is big enough for a pool. Maybe that’s what convinced the eventual buyer to jump $280,000 over the list price in just four days.

• Address: 1521 31st Street NW (map)
• List Price: $2,995,000
• Sold Price:$3,275,000
• Bedrooms: Six
• Bathrooms: 4.5
• Year Built: 1880
• Days on Market: Four
• Listing Agent: Michael Rankin, TTR Sotheby’s International Realty

Photo courtesy of HomeVisit

This article originally published at https://dc.urbanturf.com/articles/blog/best_bet_in_2014_you_paid_above_asking/9319.